The SEC served a subpoena against Investview on November 9th, 2021, according to the company’s disclosure. Investview believes the documents demanded by the subpoena relate to possible securities fraud breaches by iGenius.
According to Investview’s third-quarter 2021 quarterly report, which was submitted with the SEC on November 22nd, the information was revealed. The Securities and Exchange Commission (SEC) has just issued a subpoena for the production of records. With our subscription-based multi-level marketing company now known as iGenius, we have grounds to suspect that certain federal securities laws were broken in connection with, among other things, the offer and sale of cryptocurrency goods by the SEC.
In this case, we aim to fully cooperate with the SEC. This may be an ongoing expense that requires management’s attention as a response to the subpoena. The fact that the SEC is looking into our company could have a significant impact on our business and operations. Only lately has iGenius been included in Investview’s Securities and Exchange Commission filings.
Even still, iGenius’ passive investment possibility remains unmentioned. The “CryptoElite” trading bot provided by EndoTech is used by iGenius to solicit investment on the promise of passive returns.
In its SEC filings, Investview characterizes iGenius as: Self-directed retail investors can benefit from iGenius’ international distribution network of financial education, technology, and tools. In addition to live market training events, an extensive video and course library, market calendars, and several research and trade alert channels, each iGenius subscription comes equipped with a comprehensive set of financial education materials.
With the help of these resources, you can keep track of and make improvements to your personal financial situation. Members of iGenius have access to a variety of perks given through third-party partnerships and arrangements in addition to the technology and tools for financial education.
Some of these third-party products and services include crypto packages, reduced vacation, crypto trading software, and a digital wallet platform…
A network marketing bonus plan allows iGenius members who choose to spread the company’s goods and services to earn commissions and bonuses for the sale of memberships and the retention of customers. As you can see, EndoTech and the CryptoElite trading bot are completely absent from the list.
No mention of iGenius’s NDAU equity investment opportunity is also missing from the report. iGenius has quickly risen to the position of top money maker at Investview after starting its trading bot Ponzi scam.
IGenius’s gross revenue for November was “$8.1 million, up 437 percent year-over-year,” according to a press statement from Investview on December 22nd. iGenius earned $7.6 million in iGenius affiliate membership fees throughout the same period.
In November, iGenius, our global distribution network that provides an ecosystem of cutting-edge financial technologies, services, educational tools and content, and research, had strong performance across our numerous product offerings.
Due to a 234% growth in membership subscriptions over the same period last year, iGenius’ subscription gross income in November 2021 of $7.6 million was the biggest in the company’s history, up 407 percent from the previous year.
Chad Garner, the president of iGenius, said, “We will continue to focus on both member development and retention and income diversification for the remainder of 2021 and into 2022.”
According to Investview’s press announcement, the former CEO was arrested in November on charges related to fraud. The CFTC has already charged Investview with fraud. There are charges against Investview’s Kuvera Global, which the company will change its name to iGenius later this year.
There are no public updates or a timetable for the investigation’s completion, as is the case with all US regulatory inquiries. We’ll keep a close eye on any new developments.